Record demand for Colorado resort homes is further pinching affordable housing for locals | SummitDaily.com
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Record demand for Colorado resort homes is further pinching affordable housing for locals

Jason Blevins
The Colorado Sun
As the rental and real estate market in Telluride heat up, locals are feeling the pinch as they search for housing in the box canyon.
Photo by Jason Blevins / The Colorado Sun

As a young teacher 25 years ago, Larkin Beaman almost bought a hotel room that was converted into a studio condo in downtown Telluride. It was $80,000 for 371 square feet. 

Last month the ninth-grade teacher at Telluride High School toured the same unit. It was going for $445,000 and sold in a blink. 

“I guess I just didn’t have the vision back then,” she said as she prepared for a day of remote teaching from her classroom in a town where she has been searching for a small home. “I just want a tiny studio. I’m just waiting, but there is not anything below $500,000.”

Beaman’s story is a timeworn tale in ski towns, where sky-high real estate prices have dogged teachers, doctors, firemen and other essential local workers for decades. But this summer, a surge of largely urban newcomers fleeing big-city problems during the pandemic is hastening the displacement of locals. 

Not only are the newcomers buying everything — setting records for both prices and emaciated inventories of for-sale homes — but they are also renting resort-area homes at a breakneck clip. 

Read more via The Colorado Sun.

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